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Old 12-04-2011, 12:36 AM
Baron Von Squidlo Baron Von Squidlo is offline
 
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Location: Newport Beach
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Default Grubb & Ellis (Landaur)

Given the poor state of affairs on the residential side, I have been giving strong consideration to moving on to the commercial side. I have an opportunity to interview at Grubb Ellis' Landaur division for a commercial trainee position in a reciprocal state. I was curious if anyone has experience working for Grubb? It is a big move for me because the salary will likely be in the $45K area (a temporary pay cut) and I have to move a family of five to another state in the Pacific NW. Of course, there are the typical medical benefits and paid education.

Moderator, if this is in the wrong section I apologize. I was not sure where to post.
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Old 12-04-2011, 11:13 AM
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Terrel L. Shields Terrel L. Shields is online now
 
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If you are leaving California...it's probably a good move
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  #3  
Old 12-04-2011, 11:32 AM
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J Grant J Grant is offline
 
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I don't know anything about the firm except that they are well established. 45k is a respectable salary for training. If it includes med and educational benes, add that to salary for total compensation. Will cost of living be lower in new state? That could make up part of the gap. Sounds like a good opportunity with some short term minor $ loss for a much larger future $ gain.
  #4  
Old 12-04-2011, 12:53 PM
PL1957 PL1957 is offline
 
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Quote:
Originally Posted by J Grant View Post
I don't know anything about the firm except that they are well established.
Grubb & Ellis's stock closed at $0.22 per share on Friday. They had a 52-week high of $1.46 and low of $0.20. The company has been actively marketing itself for sale for the last year or so. Brokers are defecting all across the country. Colony Capital and C-III have provided about $18-$20 million in working capital while having an exclusive negotiating window with G&E. If Colony and C-III don't acquire G&E, it is unknown what the future of the company will be.

Landauer was a very respected name in the appraisal industry through the late 1990's before the company got mothballed. G&E decided to resurrect the name a couple of years ago in an effort to develop a "national" appraisal firm. The appraisal arm is supposedly a separate corporate entity, with separate finances and leadership. They have staffed up quickly through recruitment and selective acquisition of local firms. They've made a lot of promises to a lot of people, and the checks should be coming due pretty soon. Guaranteed bonuses eventually have to be paid.

They are known for "buying" assignments through ridiculously low fees.

That being said, they do have some excellent people working for them. It could potentially be a great way to make the transition from residential to commercial.

Last edited by PL1957 : 12-04-2011 at 04:54 PM.
  #5  
Old 12-04-2011, 04:51 PM
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JSmith43 JSmith43 is offline
 
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Still, he would be leaving CA
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  #6  
Old 12-04-2011, 05:01 PM
Baron Von Squidlo Baron Von Squidlo is offline
 
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Thanks for the feedback. Looks like they are a bit of a risk based upon PL's comments. Still, it's probably a bigger risk to remain a residential appraiser in California.
  #7  
Old 12-04-2011, 07:53 PM
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George Hatch George Hatch is offline
 
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There aren't that many opportunities for this kind of transition out there. If you really want it......
  #8  
Old 12-04-2011, 08:36 PM
Baron Von Squidlo Baron Von Squidlo is offline
 
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Quote:
Originally Posted by George Hatch View Post
There aren't that many opportunities for this kind of transition out there. If you really want it......
I would think there should or would be more opportunities like this given the aging population of CG appraisers. Heck, I just turned 44 and I am usually one of the younger people in the AI classes I take from time to time.
  #9  
Old 12-04-2011, 09:30 PM
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George Hatch George Hatch is offline
 
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The number of CG appraisers in California is now less than 2% higher than it's all-time low point from 2003. I haven't heard of anyone thinking about taking on trainees, though.
  #10  
Old 12-05-2011, 01:00 AM
Baron Von Squidlo Baron Von Squidlo is offline
 
Join Date: Mar 2002
Location: Newport Beach
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Interestingly, I was just perusing the AI job board and noticed a handful of commercial appraiser jobs available that were posted over the past week. There were at least six. Some were major players like JP Chase, Grubb Ellis, and Cushman. Maybe new blood is needed now.

Last edited by Baron Von Squidlo : 12-05-2011 at 12:13 PM.
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